Ascendiant Capital Markets Has Lowered Expectations for GRI Bio (NASDAQ:GRI) Stock Price

GRI Bio (NASDAQ:GRI) had its price objective decreased by equities research analysts at Ascendiant Capital Markets from $32.00 to $27.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of GRI Bio in a research report on Friday, July 17th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $27.00.

GRI Bio Stock Performance

Shares of NASDAQ GRI opened at $1.65 on Friday. GRI Bio has a 12-month low of $1.36 and a 12-month high of $80.36. The firm’s 50-day moving average price is $1.71 and its 200-day moving average price is $2.13. The stock has a market capitalization of $3.61 million, a price-to-earnings ratio of -0.04 and a beta of -1.20.

GRI Bio (NASDAQ:GRI) last announced its earnings results on Friday, August 14th. The company reported ($0.91) EPS for the quarter, topping analysts’ consensus estimates of ($1.19) by $0.28. On average, equities analysts predict that GRI Bio will post -4.77 EPS for the current fiscal year.

GRI Bio Company Profile

GRI Bio, Inc, a clinical-stage biopharmaceutical company, focuses on treating inflammatory, fibrotic, and autoimmune diseases in the United States. Its product pipeline comprises GRI-0621, which is in phase II clinical development for the treatment of idiopathic pulmonary fibrosis; GRI-0803 which is in phase I trial for the treatment of systematic lupus erythematosus; GRI-0124, which is in pre-clinical development for the treatment of primary sclerosing cholangitis; and GRI-0729 in pre-clinical development.